Charles Schwab Investment Management Inc. Acquires 32,825 Shares of International Seaways, Inc. (NYSE:INSW)

Charles Schwab Investment Management Inc. increased its stake in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 8.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 430,658 shares of the transportation company's stock after purchasing an additional 32,825 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.87% of International Seaways worth $22,205,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. EdgeRock Capital LLC acquired a new position in shares of International Seaways in the second quarter valued at approximately $28,000. EverSource Wealth Advisors LLC acquired a new position in International Seaways in the 1st quarter worth $27,000. Blue Trust Inc. bought a new position in International Seaways during the 3rd quarter worth about $41,000. KBC Group NV raised its position in International Seaways by 65.2% in the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company's stock valued at $56,000 after buying an additional 428 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of International Seaways by 408.0% in the second quarter. Quarry LP now owns 1,453 shares of the transportation company's stock valued at $86,000 after purchasing an additional 1,167 shares during the last quarter. Institutional investors own 67.29% of the company's stock.

International Seaways Stock Performance

International Seaways stock traded down $0.54 during midday trading on Friday, reaching $37.01. 1,005,180 shares of the company's stock were exchanged, compared to its average volume of 584,910. The stock's 50-day simple moving average is $45.36 and its 200 day simple moving average is $51.97. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 3.63 and a beta of -0.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. International Seaways, Inc. has a 52 week low of $36.65 and a 52 week high of $65.94.

International Seaways (NYSE:INSW - Get Free Report) last issued its earnings results on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.42 by $0.15. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The company had revenue of $225.20 million during the quarter, compared to the consensus estimate of $208.75 million. During the same period in the previous year, the company posted $1.99 EPS. The firm's revenue for the quarter was down 6.8% compared to the same quarter last year. On average, analysts expect that International Seaways, Inc. will post 7.92 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $1.32 dividend. The ex-dividend date is Friday, December 13th. This is a positive change from International Seaways's previous quarterly dividend of $0.12. This represents a $5.28 annualized dividend and a dividend yield of 14.27%. International Seaways's dividend payout ratio is presently 4.64%.

Insider Transactions at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $39.54, for a total transaction of $39,540.00. Following the transaction, the senior vice president now directly owns 50,803 shares of the company's stock, valued at approximately $2,008,750.62. This trade represents a 1.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $50.30, for a total transaction of $100,600.00. Following the completion of the sale, the chief executive officer now directly owns 155,475 shares of the company's stock, valued at $7,820,392.50. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,200 shares of company stock worth $758,822. 1.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on INSW shares. Jefferies Financial Group reduced their price objective on shares of International Seaways from $66.00 to $60.00 and set a "buy" rating for the company in a research note on Thursday, November 14th. Stifel Nicolaus downgraded International Seaways from a "buy" rating to a "hold" rating and decreased their price target for the company from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Fearnley Fonds raised International Seaways to a "strong-buy" rating in a research report on Friday, September 27th. Finally, StockNews.com downgraded International Seaways from a "buy" rating to a "hold" rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $60.67.

International Seaways Profile

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.